What is the future value of $750 one year from today if the interest rate is 3 percent?
A) 772.73
B) 772.50
C) 773.33
D) None of the above are correct to the nearest cent.

Question

Quizplus · Accepted Answer

The future value (FV) can be calculated using the formula: 
FV = PV * (1 + r)^n 
where PV is the present value, r is the interest rate, and n is the number of periods (in this case, one year). 
Substituting the values given: 
FV = 750 * (1 + 0.03)^1 = 772.50 
Therefore, the correct answer is B.

What Is the Future Value of $750 One Year from Today